Wk10: Stocks to Watch

Last weeks trading session didn’t produce much. As mentioned in a previous write up called “First 15-min. Rule” we do nothing the first 15 minutes the market is open. This gives us an initial gauge of market direction. Typically if a stock gaps up or down off the open it fills, therefore if a stock we are thinking about going long gaps up above our entry price, it will either begin to fail in the first 15 minutes, or move higher. Waiting for this confirmation helps shake out false moves and keeps us from entering many potential losers.

We like the recent pullback in gold and use GLD to play the metal.

Long Setups: ACS, AU, CSTR, FCX, ORLY

Short Setups: BBT, CBU, ESV, FLIR, GMT, SON, VMC